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Economy

Coronavirus takes toll on Japan's small and mid-sized businesses

Pandemic triggers bankruptcies while analysts say Tokyo's measures not enough

The Luminous Kobe 2 cruising restaurant docked at Kobe port in western Japan. Owner Luminous Cruising Co. collapsed after the coronavirus outbreak led to mass cancellations.    © Kyodo

TOKYO -- Yuyado Hananoyu, a traditional hot spring ryokan in Shizuoka south of Tokyo, will have served its last customers by the end of this month, no thanks to the coronavirus outbreak. Like many small and mid-sized businesses in Japan, its income has been devastated by travel restrictions on Chinese tourists over the last two months.

"I don't know when this virus will be over and until when we have to endure this situation," said Yuyado Hananoyu's 54-year-old owner Noriko Matsushima. "I am devastated and there is no fight left in me."

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